The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-01-18
THE NAIL TRADE
DISCUSSED by GOLD SHORTS
In His Usual Weekly Budget to tho cage
ID y Of Stecl"-1ntsresiipg Extracts From
Ts' His Letter-So,nethinE to Bs il .lu
Fyt Thought Over. '2i 'ttW. t,HN

In the last issue OF tho st. Louis Age Of
Steel, It's well known correspondent, Mr..
P. II. Moore, OF this city, t"Coll Shorty
who looks after tho industrial news and
important business transactions OF note at
Pittsburgh and here, has very interest-
Ing and exhaustive letter from which tho
following extracts are made: ~, X
1T Is becoming apparent as books are
being balanced, accounto adjusted and
settlements made, that there Is hardly q
shadow Of eaisiaction In making nails at
present prices. 1t costs not leaa than s.
and not more than So 20 to make nails,
or at least 1t should not. At So 40, with
all the allowances, rebates, diacounts, etc.,
the margin loft will divide into dollar a
good many times. In iaetit requires pretty
able and close management to keep that
margin on the right side Of tho profit and
loss account. Nails must advances or tho
production will DO restrained until better
prices are forced. Nail makers have had
4 very vexAtious experience for year
past, and In their behalf matters have
not been Improving. Prices have been
advanced, but not In just proportion with
the advances made In raw materials. To
be q fairly profitable business there should
DO . certain profit Of 25c per key two years
in three. ;,lg3.s @. ..nI GIsoJ. ,-g.s, 4EE
II have an abiding recollection Of some
experience In making nailg. The change
from iron to steel brought large meaaure
OF .relief, but there are elements still In
the business that do not contribute ia
serenity OF temper. Wheeling is virtual
ly the center OF the trade. Pittsburgh
cares hut little for it-but there are out,
lying points where the interests, policies
and ideas diverge widely from tbose which
rule in Wheeling, and this prevents TIM,
reciprocity Of action which should obtain,
Wheeling nail mon havs tho largeat OK.
perience In the business, and when con.
centration Of production has not, been
deemed advisable there should at least DC
concert Of action. h. $50 .S b lJ.f Il
9"Iron nails have ceased 10 DO o disturb.
ing factor, and the only great inequality
at pregent existing Is in the possession Of
steel annexes. 1t will bs !, a long time
before tho Bassomer steel production
reaches sufficient proportions TO equRliz9
this difference. 1t Is claimed that mild
steel is usurptng the position heretofore
occupied by swedishiro Such articles
as shovel plate, hoop plate and small nails,
havo been experimental with, and salts.
factory r-cults obtained. II uniformly
practical, this change will work large re-
suits, as Swedish iron coats more than
twice as much as steel biilots, or slabs
l3S,02S cars Of coke were shipped by the
coke ayndicate last year; Of this amount
5,l44 were shipped to st. Louis, 1850 ia
Wheeling, 1903 to Cincinnati, and to Obi.
cago, 49, 26. The total shipments are the
largest on record" l0Ia#4g - lgHti
In the course Of his letter Mr.. Moore
touches up in rather caustic manner the
cent per cent. capitalists who invest 10
foreign real estate, ground rents and i'm.
provements. He thinks that il those are
the great desideratums thoGe owning them
"should live with them and give place to
industrial spirits who ara willing to en-.
rich this productive soil with portion Of
least Of the financial harvest cleaned from
it; not rob 1t or suck from it all OF Its sub.
stance 10 nourish other aections." & And in
another place he saya Of this class:
"Thore Is but rcant Anericanism in 8
man who has not loye Of home sufficient
to assist in developing and expanding the
resources and advantages OF his native
city or city Of his adoption. Theso hoard.
ers are damned while living and execrated
after DEATH" = Az l-I 81 j!5e tai lad |!